MIRA
INFORM REPORT
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Report Date : |
21.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
HONEYWELL INDUSTRIES |
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Registered Office : |
341/ 12/ B, Street No. 5, Shalimar Park Extn, Delhi – 110 032 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1991 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers, Exporters and Importers of Disposable Plastic In-flight
Cutlery and Crockery |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having steady business. Trade relations
are fair. Payments are usually correct and as per commitments. The Company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
341/ 12/ B, Street No. 5, Shalimar Park Extn, Delhi – 110 032, India |
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Tel. No.: |
91-11-32994388/ 30926790 |
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Mobile No.: |
91-9310071842/ 91-10071842 |
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Fax No.: |
91-11-22003038 |
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E-Mail : |
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Website : |
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Area : |
320 sq. mtrs. |
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Location : |
Owned |
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Factory : |
341/ 12/ B, Street No. 5, Shalimar Park Extn, Delhi – 110 032, India |
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Area : |
300 sq. mtrs. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Vineet Gupta |
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Designation : |
Proprietor |
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Date of Birth/Age : |
42 years |
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Qualification : |
Graduate |
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Experience : |
19 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Disposable Plastic In-flight Cutlery
and Crockery |
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Products : |
v Disposal PS Party Plates v Disposal PS Tumblers v Snap-On-Type Lunch Boxes v Light and Heavy Weight Cutlery of PS and PP v In-flight Lunch Box v In-Flight Lunch Box Complete Set v Polypropylene Meal Tray v Snap-Fit Lid for Ceramics Plate v Disposable Breakfast Trays v PS Meal Tray v Snap-Fit Lid for Bone China Plates v PS Party Serving Trays v PS Ice-Cream Sumdac Boat v PS All American Banana Split (Ice-cream boat) v PS Bowls |
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Exports : |
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Products : |
All Products |
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Countries : |
Dubai, Italy etc. |
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Imports : |
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Products : |
Machinery |
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Countries : |
Canada |
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Terms : |
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Selling : |
L/C, Cash or Credit |
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Purchasing : |
L/C, Cash or Credit |
PRODUCTION STATUS
Capacity to
increase production by: 150%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing ( Purchase of raw material from open Market ) |
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Customers : |
v Indian Airlines v Air India v Kingfisher v Deccan v Jet Airways v Jet Lite v Gulf Airways |
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No. of Employees : |
10 |
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Bankers : |
ABN Amro Bank, Connaught Place, New Delhi – 110 001, India |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
- |
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Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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17.500 |
15.000 |
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Profit/Loss for the year |
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11% |
11% |
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Export Value |
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40% |
- |
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Import Value |
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15% |
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Expected Sales (2007-08) : Rs. 40.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Website Details
Attached:
About Them:
Subject is a manufacturer, exporter and importer of Disposal PS Party Plates, Disposal PS Tumblers, Snap-On-Type Lunch Boxes, Light and Heavy Weight Cutlery of PS and PP, In-flight Lunch Box, In-Flight Lunch Box Complete Set, Polypropylene Meal Tray, Snap-Fit Lid for Ceramics Plate, Disposable Breakfast Trays, PS Meal Tray, Snap-Fit Lid for Bone China Plates, PS Party Serving Trays, PS Ice-Cream Sumdae Boat, PS All American Banana Split (Ice-cream boat), PS Bowls etc.
Starting off in the year 1991, they have come a long way to create a place for
themselves in the market. The buyers these days are well informed about the
products and they do not settle for anything but the best. The market is highly
competitive these days due to the presence of many manufacturers. So to survive
in this scenario they regularly offer high quality products at competitive
prices.
They constantly keep a track on the latest technological development taking
place around the world and try to incorporate these changes in their day to day
business. Their products are exported all over the world and they also import
products from Singapore, Thailand and Korea. Their clients include all the
major domestic airlines as well as some of the international airlines
Quality Assurance
Quality has been the hallmark of all their products. They believe that quality
is the biggest parameter on which a product is judged. All their products pass
through the strict nose of their quality checking professionals. They believe
in long term business associations rather than short terms monetary gains and
over the years have built a list of successful clientele.
Infrastructure
They have a sound infrastructure comprising of two fully automated production lines as per international standards. They have a team of competent and highly skilled designers, supervisors and other workers. They believe in achieving the set goals through team work. They conduct their operations with honesty and integrity. Their employees are the pillars on which their organization stands. They are encouraged to come up with innovative ideas to make their business more efficient.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.39 |
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UK Pound |
1 |
Rs. 81.49 |
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Euro |
1 |
Rs. 58.49 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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